by winston » Sat Sep 27, 2014 11:34 am
not vested
April 18, 2013
AT, Asia Bioenergy sign supply agreement
PETALING JAYA: AT Systemization Bhd and Asia Bioenergy Technologies Bhd have inked a pact to jointly supply biotechnology solutions to schools, government bodies, military bases, national service camps, colleges and universities in Malaysia, involving the conversion of food waste into organic fertiliser.
The value of the deal, however, was not disclosed.
According to filings with the stock exchange, Penang-based AT Systemization had submitted, via wholly owned subsidiary Engineering Solution Sdn Bhd, a proposal to the Education Ministry for the implementation of a composting system in Malaysian schools.
AT Systemization fabricates industrial and engineering parts as well as designing and manufacturing industrial automation systems and machinery, while Asia Bioenergy is involved in the incubation of companies, especially in green technologies such as renewable energy and biotechnology.
Under the agreement, AT Systemization is responsible for the fabrication, manufacture and maintenance of the composting machinery. It will also secure the approvals of the relevant ministries and contract orders for the project.
On its part, Asia Bioenergy, via unit Hexa Bonanza Sdn Bhd, will provide the microbial solutions used to convert the food waste into fertiliser as well as the identification of the composting machinery design for AT Systemization.
The collaboration agreement will be in effect until a definitive agreement is signed within three months.
Both AT Systemization and Asia Bioenergy, listed on the ACE Market, were loss-making as at their latest quarter.
AT Systemization sank into the red in its third quarter ended Nov 30 with a net loss of RM2.69mil from a net profit of RM204,000 a year before. It posted a 27.7% dip in revenue to RM6.61mil.
Asia Bioenergy saw its net loss narrow to RM458,000 from RM916,000 in the three months to October, while revenue plunged 81.7% to RM274,000 from RM1.5mil.
Both counters closed near their one-year lows yesterday, with AT Systemization finishing up one sen to 11 sen, while Asia Bioenergy was unchanged at 6.5 sen on heavy trade.
Source: The Star
It's all about "how much you made when you were right" & "how little you lost when you were wrong"